| Revenue growth | Q2 +36% YoY; H1 +20% YoY |
|---|---|
| Margins | Consolidated EBITDA margin 10.3% in Q2 vs 9.2% in Q1 |
| Demand visibility | CDMO pipeline expanding across US, Europe, Japan; RFPs progressing |
| Management confidence | Management 'remains confident' in H2 outlook |
Growth
Q2 revenue up 36% YoY to ₹434 Cr; Pharma +47%, Crop Protection +21%. H1 revenue +20% to ₹837 Cr.
Outlook
Reiterates FY27 mid-teens revenue growth and substantial profitability improvement; expects H2 growth over last year.
Risks
Crop Protection hit by raw material and energy costs, Chinese competition, deferred demand. Q2 still loss-making at PAT level.
Last quarter's promises, checked
Delivered
- Q2 YoY substantial revenue growth → Q2 revenue +36% to ₹434 Cr (= BEAT)
- Pharma 18-19% CAGR → Pharma +47% YoY in Q2 (= BEAT, one quarter)
- Crop mid-to-high single-digit growth → Crop +21% YoY in Q2 (= BEAT, one quarter)
Partly delivered
- FY27 revenue +14-16% → H1 +20% to ₹837 Cr; full year still open (= PARTIAL)
- Personal Care revenue by end-FY27 → Panoli line commissioned, customer approvals pending (= PARTIAL)
Missed
- Crop margin recovery as RM/energy costs ease by end-Q2 → Crop margins still pressured by raw material, energy and China pricing (= MISS)
Investor Presentation filed with NSE, NSE: HIKAL. Summary written with AI assistance from the document.
Hikal Ltd: key numbers
- Share price
- ₹214.53
- Market cap
- ₹2,645 Cr
- Revenue (annual)
- ₹1,713 Cr
- Net profit (annual)
- ₹-48.80 Cr
- P/E (TTM)
- -529.0×Sector 47.2×
- Promoter holding
- 68.85%+0.00% QoQ
- FII holding
- 1.28%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Hikal Ltd
All →Hikal Results Update
Hikal Ltd reported Q2 FY27 revenue of ₹434 Crore and an EBITDA of ₹45 Crore. The company also announced the commencement of commercial production for Personal Care at its Panoli facility.
- Value
- ₹434.0 Cr
Hikal Q2 FY27 Results: Net Loss of ₹6.1 Cr, Loss Narrows
Hikal Ltd reported revenue from operations of ₹434.2 Cr (+36.3% YoY) and a net loss of ₹6.1 Cr for Q2 FY27.
- Key figure
- Net loss ₹6.1 Cr
Hikal Bags New Order from Europe-based global agrochemical company
Hikal signed a multi-year CDMO contract with a Europe-based global agrochemical company for a specialised product. Commercial launch is expected towards the end of FY 2026-27.
- From
- Europe-based global agrochemical company (unnamed)
- Execution
- Multi-year
Hikal Regulatory Approval
Hikal's Bengaluru API facility received a Swissmedic GMP Certificate of Compliance. The certification supports wider access to European and other regulated markets.
Hikal Other Announcement
Hikal Ltd filed its quarterly shareholding pattern for the period ended 30 September 2026. The filing reports routine ownership data with no new transaction.
Hikal Board Meeting Date
Hikal's board meets November 3, 2026 to consider September quarter and half-year results. The results are yet to be approved.